Further to the Company's announcements made on 18 September 2019, 20 December 2019, 27 March 2020, 29 June 2020, 28 September 2020, 14 December 2020, 25 March 2021, 14 July 2021, 29 September 2021, 30 November 2021, 22 February 2022, 26 May 2022, 26 August 2022, 29 November 2022, 28 February 2023 and 31 May 2023 pertaining to the MOU entered between Medik Gen, a wholly-owned subsidiary of the Company, and SST ("the Parties") for the purpose to co-operate in the market development of iRinger, an advanced IoT based medical device used for smart infusion monitoring system, the Board of Directors of LKL ("Board") wishes to announce that the Parties had on 27 July 2023 mutually agreed to terminate the MOU with immediate effect as there is no further material development of the MOU (“Termination”). 

The Termination is not expected to have any material effect on the earnings, net assets, gearing, share capital and substantial shareholders’ shareholding of the Company for the financial year ending 31 December 2023.

The Termination is not subject to the approval of the Company’s shareholders and/or any regulatory authorities.

None of the directors, major shareholders and/or persons connected with them has any interest, whether direct or indirect, in the Termination.

The Board, having taken into consideration all aspects of the Termination, is of the opinion that the Termination is made in the best interests of the Company.

This announcement is dated 27 July 2023.